Weekly Price Update Report - Week 32

NBP Natural Gas & GB Power Market Movement

Prices rose on Monday as continued planned and unplanned maintenance stemmed UK gas supplies. Reduced wind power also led to expectations of strong gas demand from power stations. The oil price receded in parts during the day and the GB Pound weakened against the Euro.

Prices lowered on Tuesday on higher Norwegian gas and a higher LNG send-out. The UK was also exporting less gas to the continent which helped to boost supplies further. An unplanned outage which affected production at the St. Fergus gas terminal had also concluded. Most contracts gained mid-week, on Wednesday, boosted by a rise in the Benchmark Front Month Brent Crude contract and a weak performing GB Pound. The rising trend continued into Thursday as disrupted Norwegian flows resulted in a deficit in UK gas supply.

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